Land Tax Act 2010
sec.16Taxable value
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sec.16 Taxable value
The taxable value , of land for a financial year, is the lesser of— the Land Valuation Act value of the land for the financial year; or the averaged value of the land for the financial year. However, if section 18A applies to land for a financial year, the taxable value of the land for the financial year is the capped value of the land. See also section 90 in relation to the capping of the taxable value of land for the financial year starting 1 July 2010. s 16 amd 2010 No. 39 s 314 sch 1 pt 2 ; 2011 No. 20 s 151 (sec.16-ssec.1) The taxable value , of land for a financial year, is the lesser of— the Land Valuation Act value of the land for the financial year; or the averaged value of the land for the financial year. (sec.16-ssec.2) However, if section 18A applies to land for a financial year, the taxable value of the land for the financial year is the capped value of the land. See also section 90 in relation to the capping of the taxable value of land for the financial year starting 1 July 2010.
- (a) the Land Valuation Act value of the land for the financial year; or
- (b) the averaged value of the land for the financial year.